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U.S. Retail Sales Trail Forecasts as Restaurant Receipts Slump
U.S. retail sales rose less than forecast in September, as a broad-based increase was overshadowed by a drop in restaurant receipts that may reflect the impact of Hurricane Florence. The value of overall sales rose 0.1 percent for a second month, compared with the median forecast of economists for a 0.6 percent gain, Commerce Department figures showed Monday. So- called retail control-group sales -- which are used to calculate gross domestic product and exclude food services, auto dealers, building-materials stores and gasoline stations -- climbed 0.5 percent, slightly more than estimated. While purchases at ... (full story)
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